Trustmoore Group has announced the acquisition of Funds Avenue, a Luxembourg-based third-party fund management company, following approval from the Luxembourg Financial Sector Supervisory Commission (CSSF), reported the corporate and fund services provider on Wednesday 4 September. The integration, pending final formalities, will expand Trustmoore’s service offerings and strengthen its position in the Luxembourg financial sector.

The merger will involve Funds Avenue relocating to Trustmoore’s Luxembourg offices, combining their expertise in risk and portfolio management, investor onboarding, fund accounting and financial reporting. This move aims to provide a broader range of fund services to meet diverse client needs, said Trustmoore in a press statement.

Steven Melkman, founder of Trustmoore Group, noted that the merger reflects the company’s commitment to expanding its service capabilities. He highlighted that integrating Funds Avenue would enhance Trustmoore’s presence in Luxembourg and address the evolving needs of its clients.

, founder of Funds Avenue, stated that the partnership aligns with the shared values of both organisations, including teamwork and valuing employees. He expressed confidence that the integration would improve service delivery and support future growth.

, head of global business development at Trustmoore, observed that the merger would expand the group’s capabilities and provide clients with more integrated solutions. He emphasised that the combined expertise of Trustmoore and Funds Avenue would offer comprehensive services.

Jean-Jacques Lava, managing director and deputy CEO of Funds Avenue, anticipated that the merger would improve Funds Avenue’s market position and enable the firm to offer a wider range of services to its clients.

Updated 16 October 2024: Timothé Fuchs remains founder of Funds Avenue, but is no longer CEO